This bill would direct the Secretary of the Treasury to stop minting the penny and would require cash transactions to be rounded up or down to the nearest five cents. The bill was introduced in the House by Representatives Lisa McClain and Robert Garcia and was referred to the House Committee on Financial Services on August 27, 2026.
If enacted, the bill would stop the Treasury from producing new pennies and would change how cash payments are settled so totals are rounded to the nearest five cents. The text does not say how existing pennies would be handled, how rounding would be applied in every situation, or whether non-cash payments would be affected. No publicly available information on those details.
No publicly available information on cost estimates, savings, or budgetary effects in the bill text or metadata.
No publicly available information on supporters' arguments or stated benefits in the bill text or metadata.
No publicly available information on opponents' arguments or stated concerns in the bill text or metadata.